On the recordNovember 18, 2011
I thank the gentleman for yielding. Mr. Speaker, I rise in strong support of the bipartisan Balanced Budget Act of 2011 and urge its adoption. My colleagues, government at all levels is mired in debt. Mismanagement and overspending have left our Nation on the brink of bankruptcy. Why? The math is simple. The Federal Government takes in approximately $2.2 trillion every year but spends over $3.5 trillion. To sustain the operations of government, we borrow 42 cents of every Federal dollar we spend. The implications are obvious: We're hurtling down a path toward the most predictable financial disaster in the history of the planet. Enough is enough. The American people want us to begin to live within our means. They need a permanent fiscal solution. {time} 1030 Spending cuts are important; but what Congress passes today, another Congress and even the same Congress can undo tomorrow. The only effective way to control spending is through an amendment to the U.S. Constitution. Balancing budgets is not an untested idea. Over 49 States currently abide by some sort of balanced budget amendment. Let's pass a balanced budget amendment to the Constitution today. Let's get the job done.
